Gold Price Rises Strongly as Bitcoin Value Shows Bullish Momentum

The price of
gold and the Bitcoin price have both shown serious bullish signs in very
recent times. While that might be shrugged off as a coincidence by a lot of
people, it seems to be a sign of what is yet to come. The financial sector is
under a lot of pressure and a fair few wealthy individuals are diversifying
before things get out of hand even further.

As can be seen
when looking at the gold price charts, a very interesting value has been
reached this week. By nearly touching the $1,400 level for the first time in
over a year, the demand for bullion is seemingly skyrocketing once again. Such
spikes are not entirely new, as they tend to occur on quite a regular basis

The previous time
such a massive price spike occurred, the price of gold surpassed $1,800 in very
quick succession. It never remained at the level for very long, however, as the
value collapsed to the low $1,100 range in the years after. Only time will tell
whether or not history will repeat itself in this regard. For now, the momentum
looks rather similar, but that doesn’t mean the same scenario will play out.

Finding the exact
reason for this surprising surge is a bit more difficult than one would think.
It would appear Asian investors, as well as central banks, are massively buying
gold. This is in line with how both China and Russia have steadily increased
their gold supply over the past few decades. In the United States, the actual
gold supply has dwindled over the years, which always puts an interesting spin
on trends like these.

Scarcity will
always be a driving factor where the gold price is concerned. Speculators hope
the same will apply to Bitcoin, as it is effectively more scarce than gold by
quite a margin. For now, it seems both gold and Bitcoin enjoy an upward spell
of momentum, although one never knows when that uptick will come crashing down
again.